Level 1 focuses on the basic skill sets that new staff need to quickly master in order to "hit the ground running" while not overwhelming them with too much information all at once. This course explains the basics of what new auditors are expected to know and do, including the nature, timing, and extent of common audit procedures. This course will focus on "why" certain procedures are performed, as well as "how" to perform typical procedures expected of new staff. This course is critical in esta

Level 1 focuses on the basic skill sets that new staff need to quickly master in order to "hit the ground running" while not overwhelming them with too much information all at once. This course explains the basics of what new auditors are expected to know and do, including the nature, timing, and extent of common audit procedures. This course will focus on "why" certain procedures are performed, as well as "how" to perform typical procedures expected of new staff. This course is critical in establishing the groundwork for the expectation that all staff should critically analyze and understand the underlying purpose of procedures, as well as how to effectively and efficiently complete assigned tasks.

Objectives:

* Describe the most critical elements of the Code of Professional Conduct, including professional skepticism and independence * Understand the desired traits of an entry-level auditor * Discuss the primary difference in a financial statement auditor’s responsibilities compared to other services, such as compilations and reviews * Explain the components of audit risk, which are necessary to reduce the risk that a financial statement auditor issues the wrong opinion